Question

QUESTION I

The economic crisis of 2008 posed a number of questions concerning the organization of society and the functioning of institutions. A number of important concerns emerged, which led to the holding of working meetings and the preparation of various scientific studies, in order to correct the mistakes of the past and, above all, to lay the foundations for a more responsible and sustainable future for society in general.

Briefly describe the entire process identified in the previous paragraph, listing some causes and lessons learned from the 2008 crisis and their relationship to the creation of a new business paradigm and the emergence of a new business leader profile. (5 points)

QUESTION II

The identification of business opportunities is one of the essential aspects in the design of an innovative process and consequently the creation of concrete products. This path can be carried out in different ways, ranging from an idea of genius or a structured thought resulting from various experiences and systematic approaches to the market.

Comment on the previous paragraphs, enumerating five dimensions that should be studied in the definition of business prototypes. (5 points)

QUESTION III

Describe the main differences between public and business entrepreneurship. What are the real challenges of pubic entrepreneurship today ? (5 points)

QUESTION IV

Relate the fundamentals of the Triple Helix thesis, with the process of creating university spin-offs. (5 points)

Answer 1

Question 1

A number of factors caused 2008 recession. The immediate cause was the initial subprime mortgage crises. The crises was visible when housing prices began falling. The US federal reserve responded by adding 24 billion dollars in liquidity.

Question 2

The paragraph states the very basic idea of business whatever it may be. The success depends on the ideas which outdo the competitors, as well as the experience or what we call learning by doing. In economics we learn a learning curve which shows, that the cost of production or management goes on diminishing as we move on learning.  Likewise experience can make great success. Other than that innovations can help.

The major five dimensions that should be studied are:

Scenario: The business scenario should be studied really well for the opportunities not to be missed out and to stand successfull in such a competetive era.

Strategy: The vision and mission of the business,chief competitors and how to defend them, who do you serve, what offers you give this year etc comes here.

Operations: The working of the business. Which all works we do this week, how all are heading what all, is everyone skilled enough etc comes here.

Marketing: Marketing is equal to cash flow. Everyone stars a business in expectation of the flow of cash and this is made pragmatic only through marketing. And this dimension is the live demonstration of the others.

Finance: How much did we make last month, out of which how much is the profit, what is the inventory, the costs, all comes under finance. And this is really important.

Question 3

The answer for this question is very direct as we all know the public entrepreneurship is only meant for the welfare of the society as a whole. Whereas the business entrepreneurship is perfectly meant for the profit of the business person or the community alone. It never takes into account the positive social returns . The former focuses on stimulating the positive social returns which transforms the social enterprises as an important alternative to conventional and outdated corporate social responsibility models which tend to only occur once healthy profits have been achieved. The real challenges faced by the public entrepreneurship today are:

Political interference (The most important one)

Political instability (The governments changes frequently)

Poor management

Over protection by the government

Poor funding (One serious issue)

Question 4

The Triple Helix thesis initiated in 1990s by Etzkowitz and Leydesdoeff, which explains a shift from an industrial society to a knowledge society where the industry-government relation is changed to university - industry- government relation. As the name itself suggest its a triple helix of university, industry and government. Whereas the university spin-offs refers to the transfering of innovations that happens in the laboratories to practical lifes. The universities can claim intellectual property rights on technologies developed in their laboratories and funded by the government they can be pratically used. Both triple helix thesis and the university spin-offs indicate the same. The innovations in universities can be commercialised with the help of government funding through university spin-offs with the Triple Helix thesis backup.